Trader Forex Malaysia Review: Is Trader Forex Malaysia scam or legit
Trader Forex Malaysia (www.trader-forex-malaysia.com) is said to be a trustworthy foreign exchange trading platform providing information, broker reviews, and trading strategies to Malaysian traders. The platform conceivably offers educational material and broker recommendations that suit both beginners and advanced traders. However, there have been doubts regarding its legitimacy and warnings have been issued by the financial authorities.
SC’s Warning to Trader Forex Malaysia
The Securities Commission Malaysia (SC) has sounded a warning against Trader Forex Malaysia, which is said to operate without due authorization. The SC regularly renews its Investor Alert List to alert the members of the public about fraudulent or unlicensed entities. The warning suggests that Trader Forex Malaysia might be misleading traders and engaging in acts that contravene the financial regulations of Malaysia.
Suspicious Regulatory License
Another red flag is posed by the dubious regulatory stature of Trader Forex Malaysia. The platform might claim that it is licensed, yet no verifiable proof of registration exists with reputable financial regulators. Traders should be highly cautious when dealing with brokers that do not hold valid licenses from recognized authorities such as the SC since that increases the chance for fraud.
Carrying on Unlicensed Capital Market Activities
Trader Forex Malaysia has further been charged with conducting capital market activities without necessary approvals. This implies that they may offer financial services, investment opportunities, or forex trading while not complying with regulatory requisites. Interaction with such a platform exposes traders to scam risks, loss of funds, and legal challenges. Always check the legitimacy of such brokers before doing any investing.
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